Small business owners in the retail industry are working 59 per cent longer than the average British worker, according to new research revealed today.
The research, commissioned by Penelope, a call handling solution for small businesses, found that retail owners worked for 51 hours a week. The trend of working long hours shows no sign of slowing as evidenced by the recent employment statistics from the Office of National Statistics which show a 0.3 per cent increase in hours worked in the last three months alone.
The survey results highlight the commitment workers in the retail industry are making in order to make their businesses a success. Small business owners are in a virtuous cycle when it comes to time and money, as 64 per cent of retail business owners state that they would prefer to have more money than time.
Ed Reeves, co-founder of Penelope said the results showed ‘the hard work being invested by small business owners.’
He added: “Being the owner and operator of a small business means taking on multiple roles and being everything to every customer. Many of these owners are both time and cash-strapped and they need to make the most of every day because the amount of time being squeezed into the working week is enormous.”